{"id":550318,"date":"2026-03-21T02:54:16","date_gmt":"2026-03-21T02:54:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/550318\/"},"modified":"2026-03-21T02:54:16","modified_gmt":"2026-03-21T02:54:16","slug":"boosting-oil-production-could-ramp-up-canadas-gdp-and-jobs-study-suggests","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/550318\/","title":{"rendered":"Boosting oil production could ramp up Canada\u2019s GDP and jobs, study suggests"},"content":{"rendered":"

Canada may have the ability to substantially raise its GDP<\/a> and add thousands of new jobs by building more oil pipeline<\/a> infrastructure, a new study suggests.<\/p>\n

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According to the report from ATB Financial, Canada could increase its total oil production by 1.5 million barrels per day \u2014 an increase of one third \u2014 and generate an average $31.4 billion to Canada\u2019s GDP every year for the next decade. Doing this could increase Canada\u2019s GDP by 1.1 per cent every year.<\/p>\n

In 2025, GDP averaged 1.7 per cent overall,<\/a> and after the two previous years each grew by about two per cent.<\/p>\n

The ATB research report, titled, \u201cThe GDP Payoff of Additional Pipeline Capacity,\u201d was released Wednesday in collaboration with Studio.Energy, a Calgary-based energy research and analytics company.<\/p>\n

The report said the calculations were based on a scenario where Canada financially commits to several pipeline projects that are either currently being evaluated or in the process of being approved.<\/p>\n

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\u201cNew energy infrastructure doesn\u2019t yield just a marginal gain for Canada\u2019s economy \u2014 it\u2019s a structural shift that will pay ongoing export dividends,\u201d said Mark Parsons, vice-president and chief economist at ATB Financial in the release.<\/p>\n

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\u201cExpanding our export capacity would fundamentally improve our national economic health and global standing at a time when Canada needs it most.\u201d<\/p>\n

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tCarney says potential Pacific oil pipeline would be \u2018twin with the pathways project\u2019\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

This comes as Prime Minister Mark Carney aims to double Canadian exports to countries other than the U.S.<\/a> over the next decade amid the trade war and U.S. tariffs<\/a>, and as the war in Iran<\/a> jeopardizes global oil supplies and caused energy prices to surge.<\/p>\n

That theoretical increase in oil exports under the report\u2019s proposals would also generate 112,000 new jobs over the next decade, the report said, which would peak at 136,100 during the initial construction phase.<\/p>\n

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Many of these jobs would include those of general labour, engineering, steel, equipment, and services across the supply chain.<\/p>\n

Alberta Premier Danielle Smith<\/a> said earlier in March that the Iran war\u2019s impact on global energy markets underscores the need to build a pipeline from Alberta to the West Coast.<\/a><\/p>\n

A separate report released earlier in March from the Vancouver Fraser Port Authority said exports of Canadian crude oil moving through the port in 2025 increased 95 per cent<\/a> from the year before, and that was months before the Iran conflict began.<\/p>\n

The same report said the Trans Mountain expansion helped fuel the rise in oil exports off Canada\u2019s West Coast, with most of the oil shipments going to markets like China and South Korea.<\/p>\n

To get these pipeline projects built and filled with the higher amount of oil would also require a large amount of funding, the report said.<\/p>\n

\u201cBuilding the pipelines is estimated to require cumulative investment of $41 billion, while ensuring there is enough oil production to fill them would require an additional $100+ billion in upstream investment \u2014 more than double the pipeline cost \u2014 generating long-term returns through export revenues, royalties, and taxes,\u201d the report said.<\/p>\n

The Trans Mountain pipeline expansion project completed in 2024, and cost the federal government a total of nearly $35 billion to complete. That included the $4.5 billion to acquire the project from Kinder Morgan in 2018.<\/p>\n

\n\t\t&copy 2026 Global News, a division of Corus Entertainment Inc.\t<\/p>\n","protected":false},"excerpt":{"rendered":"Canada may have the ability to substantially raise its GDP and add thousands of new jobs by building…\n","protected":false},"author":2,"featured_media":550319,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46,5897,32557,58574],"class_list":["post-550318","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy","tag-iran","tag-oil-and-gas","tag-pipelines"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/550318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=550318"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/550318\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/550319"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=550318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=550318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=550318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}